South Korea’s Crude Retreat Highlights Growing Fragility In Energy Trade

Nikunj Parikh May 14, 2026 350 Views

South Korea’s crude oil imports dropped sharply to 8.5 million tonnes in April from 11 million tonnes a year earlier, according to customs data. The decline reflects ongoing supply chain disruptions, reduced refinery intake, and geopolitical tensions affecting Asian energy markets and global crude trade flows, particularly around the Strait of Hormuz.